BitGo Acquires NYDIG Institutional Trading Business as NYDIG Pivots to Mining and HPC

BitGo has acquired NYDIG’s institutional trading business and related assets, expanding its derivatives, financing and capital-markets capabilities as NYDIG concentrates resources on Bitcoin mining and high-performance computing infrastructure.

The completed acquisition brings NYDIG’s institutional client trading relationships and roughly 30 employees into BitGo. Financial terms were not disclosed.

NYDIG’s trading operation serves asset managers, hedge funds, corporations, family offices and other institutional clients through derivatives, structured products, financing and customized trading strategies.

BitGo Adds Trading and Financing to Institutional Stack

BitGo plans to combine the acquired business with its regulated custody, settlement, wallet and trading infrastructure, extending the services institutions can access through one platform.

The company has already been pushing deeper into institutional markets. BitGo Prime launched a Global Liquidity Layer in July that connects clients with exchanges, market makers, OTC counterparties and other liquidity sources while integrating financing, collateral management and settlement.

BitGo followed with Link in August, connecting institutional exchange accounts directly to its platform. The company has also expanded institutional access to onchain markets, including Morpho vault strategies and Aave lending through its custody infrastructure.

The NYDIG acquisition adds a team already established in institutional derivatives and financing rather than requiring BitGo to build those capabilities entirely in-house.

The acquisition also lands as traditional financial firms widen direct access to crypto markets. Charles Schwab is preparing to add Solana, Avalanche and Chainlink after launching direct Bitcoin and Ethereum trading in May, extending its crypto platform beyond the two largest assets.

NYDIG Narrows Focus to Bitcoin Mining and Data Centers

NYDIG will redirect resources toward vertically integrated power generation, Bitcoin mining and high-performance computing data centers.

The company has a development pipeline exceeding 3 gigawatts, with more than 1 GW expected to be deliverable during 2027 and 2028. Its infrastructure strategy combines power generation and high-density computing facilities designed for Bitcoin mining, AI training, inference and other compute-intensive workloads.

NYDIG has remained active in Bitcoin infrastructure while building that transition. Riot Platforms, for example, moved another 500 BTC to NYDIG custody in July as the miner continued using NYDIG-linked infrastructure during its 2026 treasury activity.

The shift also reflects the widening move among Bitcoin miners and infrastructure companies toward data-center capacity as mining economics remain highly sensitive to Bitcoin price, network difficulty and energy costs.

BitGo Expands After 2026 Public Listing

BitGo listed on the New York Stock Exchange under BTGO earlier this year after raising about $213 million in its initial public offering.

Its institutional business has continued expanding since the listing. Second-quarter clients on platform increased 26% year over year, normalized assets on platform rose 31%, and normalized assets staked climbed 36%.

The company has also used its federal banking infrastructure to expand beyond custody. BitGo Bank & Trust operates under an OCC national trust bank charter, supporting custody, settlement and collateral services across a growing institutional product stack.

NYDIG’s institutional trading operation now moves into that platform with its derivatives, structured products, financing capabilities and approximately 30 employees, while NYDIG retains its mining and HPC business and a compute-development pipeline above 3 GW.

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